Pinnacle Entertainment set to add medium-sized hotel to Boomtown Casino in Harvey

T-P archiveJefferson Parish president John Young says the possible addition of a hotel to the Boomtown Casino site in Harvey would be great for the parish.

Gamblers visiting Boomtown Casino in Harvey could soon have
the option of staying overnight at the site as Pinnacle Entertainment is likely
to announce tomorrow that it will build a new hotel at its the riverboat casino
on Peters Road. The company has informed Jefferson Parish politicians that it
is planning a 150-room hotel on the Harvey
Canal adjacent to the
current riverboat casino site, according to a parish source. No details were
immediately available on the cost of the hotel, or the total square-footage of
the structure.

A spokeswoman for the company declined to comment on the
company's plans on Monday, citing a scheduled announcement on Tuesday.

Jefferson Parish president John Young said that there have
been rumblings about Pinnacle's plans, but no definite commitment. However, he
said that if the rumors turn out to be true, it would be a definite boon for
Jefferson Parish.

"I've heard rumors to that effect but no confirmation,"
Young said. "It certainly would show that Boomtown is confident in the economic
profile of Jefferson Parish."

Young said the parish would love to add another full service
hotel to its ranks, and it would only improve opportunities for residents and
visitors.

"This would be a major hotel development," Young said.

Gretna Mayor Ronnie Harris, whose city receives about $2
annually from Boomtown's coffers, said that although Gretna
won't see a portion of the room taxes, the new building would still help Gretna because it should
draw more gamblers

Both the parish and Gretna
benefit when more people visit Boomtown, noted Harris, who acknowledged that
gaming revenues have been slumping for the past two years. Local municipalities depend on those revenues for capital projects and for daily operations in some instances.

"Hopefully this would
cause people to come and stay longer, and we would continue enjoying their
losses," Harris joked. "I'm glad to see that they're making an investment and
that they are here to stay."

Boomtown's revenues were down about 7.2 percent in fiscal
year 2012 compared to the prior period, according to Louisiana State Police.
The riverboat casino's adjusted gross revenue was about $144.8 million in
fiscal year 2011 and $133.4 million this past fiscal year. Boomtown's fiscal
year ended on June 30.

Because of the drop in revenues, the remittance the company
pays to the state, parish and local municipalities also decreased. In 2011 the
company paid a total of $31.1 million in remittance, this past year it paid
about $28.9 million. About $170,000 fewer visitors went to the casino this past
fiscal year. Boomtown Casino opened in Jefferson Parish in 1994